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Covered Interest Parity Deviations: Macrofinancial Determinants

Author/Editor: Eugenio M Cerutti, Maurice Obstfeld, Haonan Zhou.

Release Date:January, 2019

For about three decades until the Global Financial Crisis (GFC), Covered Interest Parity (CIP) appeared to hold quite closely—even as a broad macroeconomic relationship applying to daily or weekly more...



Price: $18.00
China's Bond Market and Global Financial Markets

Author/Editor: Eugenio M Cerutti, Maurice Obstfeld.

Release Date:December, 2018

A cross-country comparative analysis shows that there is substantial room for further integration of China into global financial markets, especially in the case of the international bond market. A more...



Price: $18.00
Advancing the Frontiers of Monetary Policy

Author/Editor: Tobias Adrian, Douglas Laxton, Maurice Obstfeld.

Release Date:April, 2018

Contributors working at the International Monetary Fund present 14 chapters on the development of monetary policy over the past quarter century through the lens of the evolution of inflation-forecast more...



Price: $30.00
Revisiting the Economic Case for Fiscal Union in the Euro Area

Author/Editor: Helge Berger, Giovanni Dell'Ariccia, Maurice Obstfeld.

Release Date:February, 2018

The paper makes an analytical contribution to the revived discussion about the euro area’s institutional setup. After significant progress during the euro crisis, the drive to complete Europe’s more...



Price: $20.00
A Tie That Binds:Revisiting the Trilemma in Emerging Market Economies

Author/Editor: Maurice Obstfeld, Jonathan David Ostry, Mahvash S Qureshi.

Release Date:June, 2017

This paper examines the claim that exchange rate regimes are of little salience in the transmission of global financial conditions to domestic financial and macroeconomic conditions by focusing on a more...



Price: $20.00
Macroeconomic Management When Policy Space is Constrained : A Comprehensive, Consistent and Coordinated Approach to Economic Policy

Author/Editor: Vitor Gaspar, Maurice Obstfeld, Ratna Sahay, Douglas Laxton, Dennis P Botman, Kevin Clinton, Romain A Duval, Kotaro Ishi, Zoltan Jakab, Laura Jaramillo, Constant A Lonkeng Ngouana, Tommaso Mancini Griffoli, Joannes Mongardini, Susanna Mursula, Erlend Nier, Yulia Ustyugova, Hou Wang, Oliver Wuensch.

Release Date:September, 2016

The recovery in GDP growth since the global financial crisis has been halting and weak. Concern is widespread that countercyclical policies have run out of space or lack the power to raise growth or more...



Price: $10.00
How to Improve Inflation Targeting in Canada

Author/Editor: Maurice Obstfeld, Kevin Clinton, Ondra Kamenik, Douglas Laxton, Yulia Ustyugova, Hou Wang.

Release Date:September, 2016

Routine publication of the forecast path for the policy interest rate (i.e. “conventional forward guidance”) would improve the transparency of monetary policy. It would also improve policy more...



Price: $18.00